Computer science and technology

Boston Business Journal executive editor Doug Banks highlights new research from MIT’s Digital Currency Initiative and the Federal Reserve Bank of Boston in developing two sets of computing source code for a hypothetical Central Bank Digital Currency. The researchers “selected concepts from cryptography, distributed systems, and blockchain technology to build and test platforms that would give policymakers substantial flexibility in the potential creation of a CBDC,” writes Banks.

Reuters reporter Jonnelle Marte writes that researchers from MIT’s Digital Currency Initiative and the Federal Reserve Bank of Boston have developed two different approaches to processing transactions in a hypothetical digital currency. “The first phase of the multi-year project, dubbed ‘Project Hamilton,’ resulted in code that is capable of handling 1.7 million transactions per second,” writes Marte. “Researchers also found the ‘vast majority’ of transactions settled in under two seconds.”

Bloomberg reporter Allyson Versprille spotlights how researchers from MIT and the Federal Reserve Bank of Boston have released a new paper and open-source code, called OpenCBDC, aimed at furthering understanding of how a hypothetical central bank digital currency might be developed. Of the importance of making the software open-source, Neha Narula, director of the MIT Digital Currency Initiative, explains that “we believe that this is the best way to ensure that OpenCBDC is vetted by a large number of people--all of whom will bring unique knowledge, skills, and ideas for improvement.”

Researchers from MIT and the Federal Reserve Bank of Boston have released a new paper and open-source code to help further understanding of how a hypothetical central bank digital currency might be developed, writes Tory Newmyer for The Washington Post. Neha Narula, director of the Digital Currency Initiative, explains that they aimed to “create a flexible system that can work with a variety of models.”

Boston Globe reporter Jim Puzzanghera writes that researchers from MIT’s Digital Currency Initiative and the Federal Reserve Bank of Boston have developed experimental open-source software, called OpenCBDC, to help further examine a potential Central Bank Digital Currency.  Neha Narula, director of the Digital Currency Initiative, said she was optimistic that they could develop a system that “can help preserve strong privacy for users.”

Zero-knowledge proof (ZKP), a cryptographic method invented by three MIT researchers in 1985, enables authentication of private information without revealing information that could be compromised, reports Victor Shilo for Forbes. “ZKP has the potential to protect privacy in a wide range of cases,” writes Shilo. “By implementing ZKP, businesses and society can evolve to ‘open data 2.0’ where daily transactions are completed in today’s digital economy but without disclosing unnecessary sensitive information.”

A team of scientists from MIT and Facebook have created a new object tagging system called InfraredTags, reports Charlotte Hu for Popular Science. “InfraredTags uses infrared light-based barcodes and QR codes that embedded permanently into the bodies of 3D printed objects,” reports Hu.  

Media Lab researcher Joy Buolamwini writes for The Atlantic about the dangers posed by government agencies adopting the use of facial recognition technology. “No biometric technologies should be adopted by the government to police access to services or benefits,” writes Buolamwini, “certainly not without cautious consideration of the dangers they pose, due diligence in outside testing, and the consent of those exposed to potential abuse, data exploitation, and other harms that affect us all.”

Prof. David Autor speaks with New York Times columnist Peter Coy about the new book he wrote with Prof. David Mindell and Elisabeth Reynolds, “The Work of the Future: Building Better Jobs in an Age of Intelligent Machines.” Autor explains that: “Most people’s fear of technology is really a fear of capitalism, what the markets will do with the technology. You can’t make a lot of progress if you’re making people poorer at the same time.”

The driverless car industry lacks a clear business model in comparison to its competitors, reports Patrick McGee for Financial Times. “Driverless does not mean humanless,” says research scientist Ashley Nunes. “Robotaxis replace one set of human costs, the human driver, with another, inefficiency.”

PBS Gzero World host Ian Bremmer spotlights “The Age of AI And Our Human Future,” a new book written by Schwarzman College of Computing Dean Daniel Huttenlocher, former Google CEO Eric Schmidt, and Former Secretary of State Henry Kissinger that explores how humanity can learn to coexist with artificial intelligence. “The conclusion in our book is that the only way to sort these issues out is to widen the discussion aperture,” says Schmidt. 

Forbes reporter Richard Kestenbaum spotlights “The Age of AI And Our Human Future,” a new book written by Schwarzman College of Computing Dean Daniel Huttenlocher, former Google CEO Eric Schmidt, and Former Secretary of State Henry Kissinger that explores how software is creating a new reality for us. In the book, Huttenlocher, Schmidt, and Kissinger note that “now is the time to establish guidelines for how AI will act and what its north star will be,” writes Kestenbaum.

In an article for The Wall Street Journal about next generation technologies that can create and quantify personal health data, Laura Cooper spotlights Prof. Dina Katabi’s work developing a noninvasive device that sits in a person’s home and can help track breathing, heart rate, movement, gait, time in bed and the length and quality of sleep. The device “could be used in the homes of seniors and others to help detect early signs of serious medical conditions, and as an alternative to wearables,” writes Cooper.

Fast Company reporter Mark Sullivan spotlights QuEra Computing as one of the 15 startups to watch in 2022. “Research breakthroughs by scientists at the Massachusetts Institute of Technology and Harvard University led to the launch of QuEra Computing, which uses a unique quantum architecture and laser techniques to arrange and direct the tiny qubits or quantum bits, in its 256-qubit system,” writes Sullivan.

Wall Street Journal reporter Mark Hulbert writes that a new study by MIT researchers finds that most investors “can do much better than the one-size-fits-all approach to equity allocations that target-date funds offer for your retirement portfolio.”